Cytokinetics, Inc. (NASDAQ:CYTK) was the target of a significant decrease in short interest in July. As of July 31st, there was short interest totalling 3,660,200 shares, a decrease of 8.2% from the June 30th total of 3,986,500 shares. Approximately 7.1% of the shares of the company are sold short. Based on an average daily trading volume, of 472,500 shares, the days-to-cover ratio is currently 7.7 days.

A number of analysts have commented on CYTK shares. ValuEngine upgraded Cytokinetics from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 10th. HC Wainwright upped their price target on Cytokinetics from $21.00 to $26.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Needham & Company LLC set a $16.00 price target on Cytokinetics and gave the stock a “buy” rating in a research report on Friday, August 9th. BidaskClub upgraded Cytokinetics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 10th. Finally, Morgan Stanley set a $16.00 target price on Cytokinetics and gave the stock a “hold” rating in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Cytokinetics has a consensus rating of “Buy” and a consensus target price of $16.00.

In other Cytokinetics news, CEO Robert I. Blum sold 6,000 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $10.94, for a total value of $65,640.00. Following the completion of the sale, the chief executive officer now owns 256,022 shares in the company, valued at $2,800,880.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In the last 90 days, insiders sold 16,500 shares of company stock valued at $176,535. Company insiders own 5.70% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can boosted its stake in Cytokinetics by 109.5% during the first quarter. Bank of Montreal Can now owns 3,321 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 1,736 shares during the last quarter. Squarepoint Ops LLC boosted its stake in Cytokinetics by 14.2% during the fourth quarter. Squarepoint Ops LLC now owns 11,600 shares of the biopharmaceutical company’s stock valued at $73,000 after buying an additional 1,438 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in Cytokinetics by 59,718.8% during the first quarter. BNP Paribas Arbitrage SA now owns 9,571 shares of the biopharmaceutical company’s stock valued at $77,000 after buying an additional 9,555 shares during the last quarter. Municipal Employees Retirement System of Michigan bought a new position in Cytokinetics during the fourth quarter valued at approximately $98,000. Finally, Metropolitan Life Insurance Co. NY boosted its stake in Cytokinetics by 455.0% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 15,946 shares of the biopharmaceutical company’s stock valued at $101,000 after buying an additional 13,073 shares during the last quarter. Hedge funds and other institutional investors own 69.44% of the company’s stock.

Shares of NASDAQ:CYTK traded down $0.14 during trading on Thursday, hitting $12.49. 228,145 shares of the company’s stock were exchanged, compared to its average volume of 517,745. The company has a debt-to-equity ratio of 12.35, a current ratio of 7.09 and a quick ratio of 7.09. Cytokinetics has a 52-week low of $5.75 and a 52-week high of $14.25. The business’s 50-day simple moving average is $11.84 and its 200 day simple moving average is $9.53. The company has a market cap of $732.90 million, a price-to-earnings ratio of -6.41 and a beta of 1.66.

Cytokinetics (NASDAQ:CYTK) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.50) by ($0.06). Cytokinetics had a negative return on equity of 405.45% and a negative net margin of 308.73%. The business had revenue of $7.14 million for the quarter, compared to analysts’ expectations of $6.81 million. On average, sell-side analysts anticipate that Cytokinetics will post -1.96 EPS for the current fiscal year.

Cytokinetics Company Profile

Cytokinetics, Incorporated, a late-stage biopharmaceutical company, focuses on discovering, developing, and commercializing muscle activators and inhibitors as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. The company is developing small molecule drug candidates primarily engineered to increase muscle function and contractility.

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